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In the Philippines, ownership of immovable property can be acquired by occupancy or by prescription (ordinary or extraordinary). Consider the following scenario: A private corporation formerly owned Lot Z but never used it and did not assert rights for decades. A person named Ramon has possessed Lot Z openly as owner for 32 years, fenced the land, erected a dwelling, and paid real property taxes for the last 5 years. He has no deed or title from any person. The corporation has not claimed the land or interrupted his possession during that period. Has Ramon acquired ownership by prescription? Explain which prescription applies and the reason.